MCS 2600 Chapter 3: Chapter 3 Consumer Behavior.docx
Document Summary
Marketers use segmentation research to identify the most appropriate media in which to place advertisements. Criteria for effective targeting: to understand the criteria for targeting selected segments effectively. A segment must consist of enough consumers to make targeting profitable: stable segments need to be relatively stable in terms of lifestyle and consumption patterns, accessible. Marketers must be able to reach a market segment in an economical way: congruent with the company"s objective and resources. Not every company is interested or has the means to reach every market segment. Bases for segmentation: to understand the bases for segmenting consumers. A segmentation strategy begins by selecting the bases representing the core attributes of a group of customers figure 3. 3 page 58. A single characteristic is never used alone in an segmentation plan. Demographics is the core of all marketing segmentations. These segments have become extremely beneficial to the marketers. Family life cycle is something that families go through over the time.